A recent EY survey indicates a significant shift in the wealth management landscape in Singapore, with 39% of respondents considering changing their primary wealth manager within the next three years. This figure surpasses both global and Asia-Pacific averages, highlighting a growing trend among Singaporean investors seeking better investment performance amidst market volatility.
The 2025 EY Global Wealth Research Report, which surveyed nearly 3,600 clients worldwide, reveals that 53% of Singaporean investors have taken more control over their portfolios due to market fluctuations, compared to a global average of 44%. Investment performance remains a top priority, with 42% of respondents ranking it as the most crucial factor when selecting a wealth manager.
The report also highlights a shift towards cash and cash equivalents (CCE), with 42% of Singaporean investors planning to increase their allocation in these assets over the next three years. Despite concerns about data privacy and security, 74% of respondents expect wealth managers to adopt artificial intelligence (AI), a figure higher than the global average of 60%.
Swee Yen Yeoh, EY Asean Financial Services Wealth & Asset Management Leader, commented, “High-net-worth clients in Singapore are increasingly eyeing a change in their primary wealth provider — driven by a strong desire for better investment performance and returns.”
As the industry evolves, wealth managers are urged to provide not only returns but also expert insights, seamless digital experiences, and AI-driven tools to maintain client trust and satisfaction. This dynamic environment presents both challenges and opportunities for wealth managers aiming to meet the changing expectations of their clients.
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